May 25, 2021
Company name:
Representative:

Inquiries:
Tel:ES-CON JAPAN Ltd.
Takatoshi Ito, President &Representative Director(TSE 1st Section, code: 8892)
Minoru Nakanishi,Senior Managing Director+81-3-6230-9308

Notice on Establishment of TSUNAGU Community Farm LLC to Construct and Operate
Vertical Farms and Construction of Techno Farm Fukuroi, World’s Largest Vertical Farms
Producing 10 Tons Daily
Chubu Electric Power Co., Inc. (President & Director: Kingo Hayashi; Head Office: Higashi-ku, Nagoya; "Chubu
Electric Power"), ES-CON JAPAN Ltd. (President & Representative Director: Takatoshi Ito; Head Office: Minatoku, Tokyo; " ES-CON JAPAN"), and Spread Co., Ltd. (Chief Executive Officer: Shinji Inada; Head Office:Shimogyo-ku, Kyoto; “Spread”) announced today that they have entered into an investor agreement regarding
the establishment of TSUNAGU Community Farm LLC (“new company”) which will construct and operatevertical farms.
Expectations are high for vertical farms capable of stably producing agricultural products by managing andcontrolling cultivation environment. It is hoped that such facilities will help resolving issues that society faces,such as the growing consumer need for food ‘safety and security,’ decrease in the number of farmers owing to
the declining birthrate and aging population, and food supply instability due to frequent abnormal weather events.
Based on this investor agreement, ES-CON JAPAN, Chubu Electric Power and Spread will establish the newcompany in July 2021 and promote initiatives for constructing and operating vertical farms.
More specifically, the aim is to start construction of Techno Farm Fukuroi in Fukuroi city, Shizuoka Prefecture,
which will be the world’s largest automated vertical farm, utilizing fully artificial light and capable of producing
10 tons of lettuce per day in October 2021. The farm will be set to launch production in January 2024.
The integration of Chubu Electric Power’s energy management know-how, ES-CON JAPAN’s real estatedevelopment capabilities, and Spread’s cultivation technology to construct and operate vertical farms will allow
for the efficient and stable production of ‘pesticide-free, safe and clean’ lettuce.
Through the operation of vertical farms, ES-CON JAPAN, Chubu Electric Power and Spread will offer a solution
to issues affecting our food and agricultural sector. ES-CON JAPAN, Chubu Electric Power and Spread will also
contribute to realizing a sustainable and comfortable society as well as achievement of SDGs through thepromotion of decarbonization efforts, including proactively utilizing clean energies and effectively using CO2 inthe cultivation process.

1【Overview of new company】
Name

TSUNAGU Community Farm LLC

Established

July 2021(scheduled)

Location

1,Higashi-shincho, Higashi-ku, Nagoya-shi, Aichi PrefectureManaging partners

Chubu Electric Power (representative member), ES-CON JAPAN, and SpreadInvestment

Chubu Electric Power: 51%, ES-CON JAPAN: 48%, and Spread: 1%

Business

Production and sale of agricultural products through the operation of vertical
farms, utilizing fully artificial light.

【Conceptual drawing of the Farm (exterior)】【Image of the inside of the Farm】
・Seedling nursery

・Cultivation room

* These photos show "Techno Farm Keihanna" of Spread.

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